Question
On December 31, 2019,IvanhoeCorporation had140,400common shares outstanding. On April 30, 2020, the company issued an additional51,000common shares for cash. On July 31, 2020, the company
On December 31, 2019,IvanhoeCorporation had140,400common shares outstanding. On April 30, 2020, the company issued an additional51,000common shares for cash. On July 31, 2020, the company repurchased and cancelled21,000common shares.
During the year ended December 31, 2020,Ivanhoeearned income before taxes of $40,000,000. Not included in this income was a loss from discontinued operations of $5,000,000before tax. The company was subject to a25% income tax rate.
Calculate earnings per share data as they should appear on the 2020 income statement ofIvanhoeCorporation.
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
